Volkswagen: still targeting an affordable EV by 2025

March 15, 2023 9:23 am

A model of a Volkswagen Bus is seen before the annual news conference of the Volkswagen Group at DRIVE.Volkswagen Group Forum, in Berlin, Germany March 14, 2023. [Source: Reuters]

Volkswagen (VOWG_p.DE) still wants to bring an affordable electric vehicle – costing around 25,000 euros ($26,790.00) in today’s prices – to market by 2025, the carmaker said, describing it as a model below the ID.3.

Asked how the carmaker would respond if demand was not as strong as expected in coming years, Antlitz also said the company was open to postponing or shifting its battery investments. “The overall target is having solid financials,” he said.

In the lead-up to an announcement expected in June on the outcomes of mock listing exercises instigated by CEO Oliver Blume at each brand, Blume said the brands had already set profitability and cash flow targets for each brand at a January summit.

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